Balancing Responsible Innovation & AI Based People Systems: w/Eric Sydell, co-founder of Vero AI

Psych Tech @ Work

"It's about selling objectivity, not just science. We need to make sense of the vast data around us to help businesses make better decisions."
-Eric Sydell

Summary:

In this episode of "Psych Tech @ Work," my long time friend Eric Sydell, IO psychologist, genius, and co-founder of Vero AI, joins me to discuss the transformative potential of AI in the workplace and the importance of responsible innovation. This episode offers a deep dive into the practical applications of AI in HR tech, the necessity of ethical guidelines, and how businesses can implement AI responsibly to drive innovation while mitigating risks.

In our conversation we get into the brass tacks of responsible AI.

But first we share some stories about our respective career journeys and life as IO psychologists here in 2024. And how we both find peace and harmony in this crazy world by working with our hands (he builds guitars, I work on old cars).Besides talking about hobbies, my agenda for having Eric on the show was to learn more about what Eric’s company, Vero AI, is doing to help drive safe innovation with AI.

Eric delves into the technical aspects of how Vero AI leverages advanced analytics and AI tools to enhance decision-making processes. He highlights the company's unique approach to converting unstructured data into quantitative insights, enabling businesses to monitor and optimize their operations effectively.Eric emphasizes the importance of continuous output monitoring to ensure AI tools are fair, unbiased, and effective. He explains how Vero AI’s platform uses a combination of AI and rigorous scientific methods to provide comprehensive analyses of algorithmic impact, compliance, and fairness. Our discussion also covers the evolving landscape of AI regulations, the importance of aligning with these regulations, and how Vero AI assists companies in navigating this complex terrain. Eric's insights provide a detailed look at the practical applications of AI in HR tech, underscoring the balance between innovation and ethical responsibility.

Takeaways:

• Sell Objectivity: Focus on using AI to make sense of vast data, helping businesses make better decisions based on rigorous scientific methods.
• Monitor AI Outputs: Continuous output monitoring is crucial to ensure AI tools are fair, unbiased, and effective.
• Responsible Innovation: Approach AI adoption with a rigorous, ethical mindset. Balance innovation with the responsibility to monitor and understand AI systems.
• Regulation Awareness: Stay informed about evolving AI regulations and work towards compliance by maintaining transparent and accountable practices.
• Leverage AI Thoughtfully: Use AI to enhance decision-making processes while being mindful of potential biases and ethical considerations.

No show would be complete without the Take it or Leave it” Show.In this episode Eric and I discuss two interesting articles about hiring bias and regulation
Articles Discussed in the "Take it or Leave it" Segment:

1. "Colorado's New Law on Regulating Brain Implants and Neurological Tech"
   • Summary: This article discusses Colorado’s new law aimed at regulating brain implants and other neurological technologies, focusing on data privacy and ethical concerns.
   • Discussion: Eric and Charles debate the necessity and timing of such regulations, considering the current state of the technology and the importance of data privacy.

1. "Employers Ask, What is AI? as Regulators Probe Hiring Biases?"
   • Summary: This article explores the confusion among employers regarding the definition of AI and the importance of evaluating adverse impact in hiring decisions, regardless of the technology used.

Discussion: Eric emphasizes the need for clear definitions and the importance of focusing on outcomes rather than the specific tools used, while Charles discusses the practical implications for employers.